Eihbank Allocates €30m Credit Line to EDBI

Following the signing of a short-term refinance deal, the Europaisch-Iranische Handelsbank AG has allocated a €30 million credit line to the Export Development Bank of Iran.
This was announced by EDBI's director of international affairs who explained that the credit line has been allocated to finance imports of goods and services.
"The bank's customers can apply for using the resources of the refinance credit line by adhering to the regulations of opening import letters of credit and other announced criteria," Hamidreza Maboudi was also quoted as saying by the official website of EDBI.
In outlining the conditions of the credit line, the official said the loan repayment period has been set at six months for essential goods such as medicine and medical equipment, while raw material loans' maturity period will be one year.
Interest rates on the loans have been set at 2.75%, which will amount to 4.75% by including the 2% processing charges.